(The best writeup of this I've seen is https://github.com/felixpalmer/android-visualizer/issues/5 which details some of the problems that audio tunneling can cause)
http://source.android.com/devices/audio/latency_measurements...
Basically it has been getting and better with new versions of Android and better hardware, but it still has room for improvements.
http://source.android.com/devices/audio/latency_measurements...
Basically it has been getting and better with new versions of Android and better hardware, but it still has room for improvements.